Ultra Resources prepared to initiate exploration drilling at the Laguna Verde Brine Lithium Project in Argentina

Ultra Resources Inc. has announced the signement of a drilling contract with Los Arcangeles SA to carry out drilling and brine sampling on its 100% owned Laguna Verde brine lithium project in Catamarca Province, Argentina.

Laguna Verde is a new brine lithium discovery where exploratory sampling conducted by Ultra Resources has shown lithium values in the range of 34.2 to 1,270 milligrams per liter (mg/L). The Laguna Verde mineralized brines are marked by low magnesium to lithium ratios, in the range of zero to 10.2 which can result lower production costs.

The exploration work is aimed at achieving the following objectives:

  • Identify the depth of the Laguna Verde basin.
  • Confirm the potential of the aquifer in terms of porosity, permeability and effective porosity.
  • Assess the quality of the brine in terms of content of lithium and other salts.
  • Log the number and types of aquifers (shallow, intermediate and deeper) and their thickness with the potential to host economically viable lithium brine mineralization.

Los Arcangeles SA is scheduled to commence mobilization in the second week of January to set up the field camp and transport drilling equipment. Initially the contract is for drilling 3 rotary drill holes, one to depth of up to 400 metres and two to a depth of up to 200 metres below ground surface. Additionally, a diamond drill hole will be completed to define subsurface stratigraphy and for carrying out in-situ density / permeability tests of various sedimentary units down to a depth of up 400 metres. Once the drill hole is completed, the contractor will also arrange technical support for carrying out pump tests, brine sampling, and down hole geophysical surveys.

The Company has hired Mr. Horacio Garkus, of Salta, Argentina, who is an experienced geologist in brine lithium projects to supervise drilling, core logging, sampling, pump tests and other geological/ hydrogeological aspects of the project. Ultra Resources is also looking for the services of a qualified consultant to carry out brine resource estimation subject to the success of the upcoming drill program.

The government of Catamarca has approved the exploration program and issued a drilling permit and has communicated with the ministry of mining regarding start date of work and other details. The Company has also received clearance from the local communities of Antofalla and Antofagasta de La Sierra towns for the exploration program. The Company will continue to communicate and coordinate with the local communities as the exploration program progresses. These communities have worked with the Company to complete the previous phases of exploration work.

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